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USDCHF: Multi head pulling vibration

2022-09-23
1105
Fundamental analysis:


The USD/CHF remained volatile at around 0.97620. The Swiss Central Bank raised the interest rate by 75 basis points from -0.25% to 0.50% as scheduled, ending the 8-year negative interest rate policy. The interest rate level reached a new high since December 2008, but the Swiss Central Bank lowered its economic growth forecast.


USD/CHF USDCHF - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' driving force is strong and rising, the short-term consolidation of high level, the market bullish sentiment starts to pour in, the MACD indicators remain in the bulls' area and the RSI indicators remain in the bulls' area;


Empty turning point: 0.97442


Pressing position: 0.97941, 0.98242


Support position: 0.97119, 0.96811


Trading strategy: bullish above 0.97442, target 0.97941, 0.98242


Alternative strategy: bearish at 0.97442, target 0.97119, 0.96811

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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